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Anna council backs Shirley Farms reinvestment zone and authorizes up to $35M in bonds
Summary
The council approved the final Shirley Farms reinvestment zone project and financing plan, related assessment ordinance and an authorization to issue special assessment revenue bonds not to exceed $35,000,000 to fund public improvements in the district.
The Anna City Council on Feb. 24 approved a package of actions creating Reinvestment Zone No. 9 (Shirley Farms PID/TIRZ) and moving to finance public infrastructure through special assessments and revenue bonds.
Public Works Director Joseph Cotton told the council the actions included the final project and finance plan and the assessment roll for improvement area No. 1, all steps in the multi‑meeting PID/TIRZ process. He said the council previously delegated authority to act on some items and that this evening included the final ordinance and bond authorization.
Councilmembers approved the resolution and ordinance to create the reinvestment zone and accept the assessment plan. The council also voted to authorize the issuance of special assessment revenue bonds for improvement area No. 1 in a principal amount not to exceed $35,000,000, payable from assessments, to fund public improvements identified in the plan.
Council members thanked staff and bond counsel for the work; the motions carried without opposition in the meeting record.
The actions lay the legal and financing groundwork for infrastructure in the Shirley Farms area, with next steps carried out by the city’s finance and public works teams as described by Cotton.
